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Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor markets, minimum wages tend to increase training of...
Persistent link: https://www.econbiz.de/10005016812
innovations - innovations that break new ground in terms of knowledge creation. After presenting a motivating model focusing on … the choice between incremental and radical innovation, and on how managers of different ages and human capital are sorted …. Our measures of creative innovations proxy for innovation quality (average number of citations per patent) and creativity …
Persistent link: https://www.econbiz.de/10014037664
Persistent link: https://www.econbiz.de/10013334882
We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A …
Persistent link: https://www.econbiz.de/10010655943